BREAKING: Milbank Wows Associates With Summer Bonuses Up To $25,000!
Will other Biglaw firms step up?
Milbank is back at it! The Biglaw firm has made a name for itself for constantly pushing associate compensation upwards, so why would 2024 be any different?
Today, the firm announced special summer bonuses for all associates globally. The dollar amount ranges from $6,000 to $25,000, as per the following scale (you can read the full memo on the next page):
| Class of 2024 | $6,000 |
| Class of 2023 | $6,000 |
| Class of 2022 | $10,000 |
| Class of 2021 | $15,000 |
| Class of 2020 | $20,000 |
| Class of 2019 | $25,000 |
| Class of 2018 | $25,000 |
| Class of 2017 | $25,000 |
| Class of 2016 and more senior | $25,000 |
| Special Counsel | $25,000 |
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Earlier this summer, bonuses were handed out at some elite boutiques and specialized firms. But Biglaw leaders seemed skeptical it would catch on. Well, Milbank defied that expectation! Also of note, unlike some of the boutique bonuses, Milbank’s numbers aren’t keyed to specific hours requirements, but instead to class year.
Associates in good standing at Milbank will be get their bonuses on September 30.
So, what’s going on at at your firm? If your firm announces summer bonuses, please let us know ASAP, so we can shout the news from the rooftops — maybe get a real bonus party started.
Remember everyone, we depend on your tips to stay on top of important bonus updates, so when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Matches”). Please include the memo if available. You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file.
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And if you’d like to sign up for ATL’s Bonus Alerts (which is the alert list we also use for salary announcements), please scroll down and enter your email address in the box below this post. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish. Thanks for all of your help!
Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter @Kathryn1 or Mastodon @[email protected].
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